Invesco Ltd. Buys 51,160 Shares of CareDx, Inc (NASDAQ:CDNA)

Invesco Ltd. increased its stake in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,514,850 shares of the company's stock after buying an additional 51,160 shares during the period. Invesco Ltd. owned 2.82% of CareDx worth $32,433,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CDNA. Vanguard Group Inc. raised its position in shares of CareDx by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock valued at $104,047,000 after acquiring an additional 323,554 shares during the last quarter. Geode Capital Management LLC increased its holdings in CareDx by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,234,263 shares of the company's stock valued at $26,432,000 after purchasing an additional 6,539 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in CareDx by 25.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company's stock valued at $18,738,000 after purchasing an additional 178,304 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CareDx by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 511,922 shares of the company's stock valued at $10,960,000 after buying an additional 12,442 shares during the period. Finally, Royce & Associates LP grew its position in shares of CareDx by 23.1% during the 4th quarter. Royce & Associates LP now owns 484,286 shares of the company's stock worth $10,369,000 after buying an additional 91,000 shares during the period.

CareDx Price Performance

Shares of CDNA traded up $1.06 during midday trading on Wednesday, hitting $18.84. The stock had a trading volume of 96,054 shares, compared to its average volume of 848,984. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -6.98 and a beta of 2.18. The company has a 50 day simple moving average of $19.45 and a two-hundred day simple moving average of $22.13. CareDx, Inc has a twelve month low of $7.42 and a twelve month high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.05 by $1.46. The firm had revenue of $86.58 million for the quarter, compared to analysts' expectations of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. Analysts forecast that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. HC Wainwright reduced their price objective on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their price objective on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company raised CareDx from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, Stephens restated an "overweight" rating and issued a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.33.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.